LinkedIn had four suitors before Microsoft acquisition
Filing reveals Redmond and Salesforce were not the only bidders for the social network
Four companies were engaged in a bidding war to acquire LinkedIn before Microsoft finally won out, it has been revealed.
A filing with the US Securities and Exchange Commission (SEC) reveals that four parties in addition to Microsoft, known only as Party A, Party B, Party C and Party D, considered buying the social network, although with varying levels of interest.
Despite several meetings with LinkedIn's CEO Jeff Weiner and other representatives of the company, parties B, C and D ultimately made no offer, although Party B did go as far as a having a due dilligence call.
The filing sheds additional light on how far Salesforce, which can safely be assumed to be party A after CEO Marc Benioff admitted it nearly bought LinkedIn, went in its attempts to buy the social network.
According to the filing, Party A initially offered $160-$165 per share in a mix of cash and stocks on 25 April, with Microsoft then matching this amount with an all-cash bid on 4 May. Party A then followed this up with a bid of $171 per share in a 50/50 mix of cash and shares on 9 May, with Microsoft offering $172 two days later.
Ultimatley, while Party A and Microsoft both entered final bids of $182, it would seem that Microsoft's all-cash offer won the day.
While the identity of Party C remains a mystery, Re/code claims that parties B and D were Google and Facebook respectively.
Indeed, while they were not as agressive as Party A, they are the two suitors that showed the most serious interest. While Party C ultimately declined to make an offer fairly early on, parties B and D only backed out after the due dilligence call, in the case of the former, and being told there were other bidders, in the case of the latter.
How inkjet can transform your business
Get more out of your business by investing in the right printing technologyDownload now
Journey to a modern workplace with Office 365: which tools and when?
A guide to how Office 365 builds a modern workplaceDownload now
Modernise and transform your sales organisation
Learn how a modernised sales process can drive your businessDownload now
Your guide to managing cloud transformation risk
Realise the benefits. Mitigate the risksDownload now